ENERGY

Authored by Charles Kennedy via OilPrice.com,

India’s diesel exports loading for Europe hit a record high in September amid open arbitrage for westbound shipments, Reuters reported on Wednesday, citing tanker-tracking data and (more…)

Oil prices tumbled back to earth today, erasing Sunday night's gains on apparent optimism that the Irasel0-Hamas war wouldn't last long and wouldn't disrupt oil market in the MidEast. Sounds pretty optimistic to us but hey.

There may have been some downward pressure also as traders weighed EIA's monthly Short-Term Energy Outlook which reported that US crude production surged to a record during the third quarter and is expected to climb further above 13 million (more…)

Authored by Tsvetana Paraskova via OilPrice.com,

• A Reuters analysis has shown that China is likely to have saved around $10 billion on crude oil imports so far this year by importing sanctioned oil.

• Venezuela, Iran, and Russia are all under sanctions and made up 25% of overall Chinese crude oil purchases in the first nine months of 2023.

• Russia's discounted oil has been snapped up by China and India this year, overtaking imports of oil from Saudi Arabia.

China (more…)